PM SVANidhi: Street Vendor Micro Credit

About This Scheme

PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) provides affordable micro-credit to street vendors. Vendors can get collateral-free working capital loans of 10,000 (first tranche), 20,000 (second tranche), and 50,000 rupees (third tranche) with 7 percent interest subsidy and cashback incentives for digital transactions. The scheme was launched in 2020 to support street vendors affected by COVID-19 and has since expanded significantly to cover vendors across India. Over 60 lakh street vendors have accessed credit through PM SVANidhi, bringing them into the formal financial system, enabling digital payment adoption, and graduating them into larger MUDRA and PMEGP loans over time.

Ministry: Ministry of Housing and Urban Affairs

Eligibility

Street vendors with Certificate of Vending or Letter of Recommendation from ULB; vendors in possession of Identity Card issued by Town Vending Committee; vendors who were surveyed under the Street Vendors Act, 2014.

Key Benefits

• 1st loan: ₹10,000 collateral-free working capital
• 2nd loan: ₹20,000 on timely repayment of 1st loan
• 3rd loan: ₹50,000 on timely repayment of 2nd loan
• 7% interest subsidy per annum (quarterly direct benefit transfer)
• Cashback incentives for digital transactions (up to ₹1,200/year)
• No prepayment penalty

Application Process

1. 1Visit pmsvanidhi.mohua.gov.in and register with mobile number
2. 2Apply online or through Common Service Centre (CSC)
3. 3Upload Certificate of Vending or Letter of Recommendation
4. 4Application forwarded to lending bank (scheduled bank, RRB, cooperative, NBFC-MFI)
5. 5Loan disbursed to vendor's bank account within 30 days

Documents Required

• Aadhaar Card
• Certificate of Vending / Letter of Recommendation from ULB
• Bank account details
• Mobile number
• Passport-size photo

Official Links

Related Schemes